JADE:
Bought 9:30am doji,
400 shares @ $4.0095,
target $4.15,
stop loss $3.90,
risk/reward 1.28 (usually low for dojis such as these),
complex exit--
Sold 200 shrs @ $4.0515
Sold 200 shrs @ $3.932
Commentary: Good trade to start, excellent entry, good objectivity, sold 1/2 position at +1% gain. Then the bottom just fell out and the stock tanked. I should have exited the second 1/2 position at $4.00 (near breakeven), but watched the stock tank. Finally entered my market sell and got out at that bar's bottom (of course). Lesson here 1) Using Quotetracker, always enter next move (usually sell) after a move is made because it 'zeros' out the ticker/shares after the transaction. Had I had 200 shares entered, I could've sold earlier. 2) Don't think, just react, especially as targets/stops are hit. I only use mental values, so I must have lighening fast reflexes. I probably could have exited at $3.97 or so, had I been prepared. That would've cut my loss in half. Nonetheless, I was very pleased with the entry and first sell and still consider the trade decent. 3) Also, I need to think about the effect of commissions, this trade was 8 bucks using the same capital base, when a higher priced stock would've been ~2 or 3 bucks...
Gross P/L: -$7.10, net -$15.16
As always, there is always tomorrow (or Thursday for me due to pattern day trader...), Masterjaz out
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